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Bills And Notes - Indorser - Language Showing Other Intent, William K. Jackson

Michigan Law Review

Defendants were accommodation parties on a note, signing in the following manner: "For value received we hereby guarantee the payment of the within note at maturity or at any time thereafter with interest at the rate of seven per cent per annum until paid, and agree to pay all cost or expenses paid or incurred in collecting the same, waiving demand of payment, protest and notice of protest." Held, the signers, having written out their contract in some detail, expressed a sufficient intention to be bound as guarantors and not an indorsers, notwithstanding the additional words "waiving demand of …